Rise of electric vehicles makes solar and wind better long-term investments than oil. Renewable energy is good money, not just good for the earth. … The reason why wind and solar energy pose such a threat to the energy system established over the past 100 years is simple: they have a short-run marginal cost of zero.
FT 5th Aug 2019 read more »
A groundbreaking report out today shows huge capital-efficiency advantage of solar and wind over oil. In this potentially game-changing report, BNP Paribas introduces the concept of Energy Return on Capital Invested. Conclusion: “The economics of oil for gasoline and diesel vehicles versus wind- and solar-powered EVs are now in relentless and irreversible decline, with far-reaching implications for both policymakers and the oil majors.” This really is seismic stuff, with huge implications for all the issues that depend on solar and other survival technologies accelerating faster and the incumbency fully retreating from their planet-wrecking civilisation-imperilling rearguard defence of oil and gas. This is a 4 minute slideshow summary for busy folk of this potentially game-changing report.
Jeremy Leggett 5th Aug 2019 read more »